This Note explores the shape and direction of the future of microfinance sector in India and proposes a model where MFIs act as agents of banks.
It tries to make a win-win case wherein clients benefit from the wider bouquet of product offerings; MFIs de-risk their operations and banks get intermediaries with closer to the ground presence and a more equitable risk – return ratios.
The Note is the first of a series of technical briefs focused on strategic marketing for mobile money, covering the following topics:
Challenges in marketing,Branding,Product marketing, and, Parallel links with successful marketing efforts to the rural poor by other industries.
This Note, in particular, attempts to highlight the need for marketing e/m-banking services and derives its content from several field research initiatives undertaken by MicroSave along with its Action Research Partners (ARPs) in India, Indonesia, Kenya, South Africa, Colombia, Papua New Guinea and the Philippines.The Note also introduces the strategic marketing framework of MicroSave and how it applies to e/m-banking context.
This Note is a summary of some of the key questions that usually surface during customer interactions regarding the use of e/m-banking platforms. The key objective of the Note is to serve as a reference for institutions engaged in e/m-banking for their marketing plan design and promotion strategies. These questions, simple but important, can help institutions fine-tune their product, processes and, most importantly, their communication strategy.
The Savings for the Poor Innovation and Knowledge Network (SPINNAKER) was created by a group of professionals with a mission to help financial institutions develop, research, compare, and ultimately improve the design, marketing and delivery of savings products for the poor.
This paper consolidates the views of different stakeholders involved in e/m-banking on the aspects related to ‘Agent Network Management’ – a critical piece of the puzzle that many have ignored, unfortunately, at their peril.
MicroSave research aims to understand the reasons for widespread dormancy in No Frills Accounts opened through various service providers like public and private sector banks, RRBs and business correspondents.